Hello Everyone
Here's my submission on Homework Task 6 by @sapwood on Convergent Linear Reward
What are the economic & social ramifications of self-upvote in Steem Blockchain? Do you gain better curation rewards by upvoting others as compared to self-upvote? (Include real examples)
From the lesson, we get to know that self-upvote coaxes poor content discovery as individuals sought to maximize their reward at the expense of curating quality content.
During the computation of quadratic equation for reward curve, newcomers and those holding a small amount of SP did not really receive the due recognition for their quality content since individual self-voted their post regardless of its quality inorder to gain more rewards.
As a result, the newcomers got discouraged easily.
The use of bot upvotes to curate one's self was also on the raise which also contributed to poor content discovery
From the lesson, I understand that curating on quality content is rather beneficiary than self upvote.
For example, as 3 individuals agree and curate on a quality post as a community,
- Lets say the they have SP values of 10000, 20000 and 3000 respectively
- Their combined input will be 10000+20000+30000=60000 SP will generate an output of $1.4326 as compared to individual outputs of $0.2044, $0.4249 and $ 0.6595 respectively.
What is the difference between isolated judgment and community judgment in curation? How do you adapt to community judgment on quality content in Steem Blockchain? Does that bring economic incentive for you? If yes, explain with real examples, (include screenshots and compare them with your isolated judgment)?
With isolated judgements, the user generates less reward. This aids poor contents discovery due to upvote of irrelevant posts since the curator does not make time to examine the authenticity of the post.
Community judgements generates better rewards. Quality content discovery is upheld in this instance which satisfies POB.
In order to adapt to community judgements on quality post in Steem Blockchain, one must make the time to search and examine post and vote on quality posts as quality posts attract other users especially whales to vote on.
Thus, one can reach an agreement with the community on only quality content which adds value to the Steem Blockchain
Go to Steemworld.org, check your Upvote value( at the current SP, VP). Take a screenshot. Then go to the Steemit trending page, find a post with a payout of more than $10 but less than $50(Age less than 6 Days 12 hrs). Upvote it. Take screenshots before and after upvote. Similarly, go to another post on the Trending page, find a post with a payout of more than $100( Age less than 6 Days 12 Hrs). Upvote it. Take screenshots before and after upvote. Tell the differences between the two. Which one has produced a greater Upvote value & Curation reward for you with the same resources(SP, VP)? Explain?
As can be seen below, with my current SP of 360.73 and 100% VP, MY 100% vote weight will result to an upvote of $0.01.
My expected curation reward is $0.005
As seen above,
- Post Payout before voting =$207.08
- Post Payout after voting= $207.12
- Difference = 207.12-207.08 = $0.04
With the same resources, community judgment produces $0.04 which is exactly 8 times of my isolated judgment of $0.005
Here I earn Pcurator= 0.5* (√207.12) * (√207.12-√207.08) 1 = $0.01 which is 2times that of $0.005
From this post,
- Post Payout before voting =$37.57
- Post Payout after voting= $37.60
- Difference = 207.12-207.08 = $0.03
In this post, judgment produces $0.03 which is exaclty 6 times of my isolated judgment of $0.005
Here I earn Pcurator= 0.5* (√37.60) * (√37.60-√37.57) 1 = $0.0075 which is only 1.5 times that of $0.005
Comparing these two scenarios, it is evident that Community Judgement with same resources rewards more than individual isolated judgments.